NZ-based 9 Spokes launches roadshow for A$25M IPO on the ASX

Posted by | Latest news | June 22, 2016

New Zealand-based cloud app integrator 9 Spokes is launching a roadshow in Melbourne and Sydney this week and then New Zealand and Asia next week to drum up support for a A$25 million listing on the ASX.

9 Spokes’ platform allows small businesses to aggregate their various cloud computing applications on a single dashboard, helping them track and peer review their performance more cheaply than a corporate ERP (enterprise resource planning) system. They also get a single bill that covers all subscriptions to apps transferred in or purchased through 9 Spokes.

It recently built Deloitte Private’s Connect cloud application platform.

Rumours of the planned IPO first surfaced in Australian media late last year when the company was holding investor meetings in a A$4 million pre-IPO fundraising.

The company, founded in 2011 by Adrian Grant and current chief executive Mark Estall, wants to raise up to A$25 million at 20 Australian cents a share, valuing the business at A$80 million.

The pre-IPO fundraising was priced at a 25 percent discount to the current offering.

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